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N26 is now offering cashback and discounts in the US - Business Insider

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Debit card perks are a solid way to drive higher transaction volume, and N26 will benefit from widening the range of partners it works with:

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.N26 US has rolled out an expansion to its Perks program, which offers customers cashback rewards and discounts when they make purchases using their N26 debit card, according to a press release sent to Business Insider Intelligence.The new perks include discounts from partners like Booking.

Debit card perks are a solid way to drive higher transaction volume, and N26 will benefit from widening the range of partners it works with. Strong transaction volume is one of the major tenets of a neobank's future success, enabling it to make a significant amount of revenue off of interchange, so for N26 to incentivize purchases with its debit card is a wise bid for its future prospects.

For this reason, the more companies that the neobank can get to participate in its Perks program, the better its ability to target a wide range of its users will become. Furthermore, it's possible that N26 receives affiliate or referral revenue for posting the offers it does, meaning that each offer could contribute positively to the neobank's bottom line.

The other half of a solid long-term strategy to reach profitability will be incentivizing stronger deposits in addition to transactions. Neobanks should also work to become their customers' primary bank, a goal that almost all of them have been struggling with so far. Even in the UK, a market where online banking adoption is

 

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